Dubai: Tim Hortons looks to open at least 100 stores annually in the Middle East in the coming years, according to the company’s top executive.
The stores would open “in the next years”, starting in 2016, Elias Diaz Sese, president of Tim Hortons, said by phone on Monday. He did not divulge additional details.
“We are working with our partner on putting a plan together to try and open at least 100 stores every year in the Middle East,” he said.
The expansion is driven by strong demand from customers in the region, according to Sese. He, however, declined to comment on the company’s financial performance here.
“The number of customers coming to our stores over the last year are increasing versus the previous year… we see great growth here… our expectations of growing our brand and business in this part of the world are big,” he said, adding that “there is a good opportunity to grow the business with our partner.”
Franchised by the UAE-based Apparel Group, the Canadian doughnut and coffee chain has 71 outlets in the Middle East including the UAE, Saudi Arabia, Qatar, Kuwait and Oman. The company opened 14 new store locations in the region in the last 10 months.
Awareness of the brand in the Middle East has improved since it had established its presence here in 2011, Sese said, adding that it is “increasing very fast”.
Tim Hortons will also open additional stores in the region by December, he said, but declined to give details on the expansion.
US-based fast food chain Burger King acquired Tim Hortons last year for around $11.4 billion (Dh41.86 billion), creating Restaurant Brands International, based in Canada. It is the world’s third largest quick service restaurant company, with a market capitalisation of about $18 billion.
Daniel Schwartz, formerly chief executive of Burger King, is now chief executive of Restaurant Brands International.
Sese said that the acquisition did not affect locations in the region or staff. Hundreds of Tim Hortons staff were laid off at its headquarters and regional offices earlier this year.
“From a pure business perspective, nothing has changed. Same business, focus and level of direction,” he added.
He said that company’s growth strategy in the region “is accelerating and has not changed.”
Tim Hortons does not currently look to open in new markets in the region, as it will continue to focus on expanding in the markets where it already operates, according to Sese.
